Asean Morning News For August 22

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Security threat cancels Asean meeting in Bicol
A credible security threat has forced the cancellation of the five-day Asean Ministerial meeting in Bicol scheduled to start on Tuesday, August 22, at the Albay Misibis Resort.
— Business Mirror

AMIH creation will deepen information on Asean capital markets- SC chairman
The Securities Commission has called for the creation of an Asean Markets Information Hub (AMIH), which could be used towards further deepening of the region’s capital markets.
— New Straits Times

TrueMoney unveils new and improved e-wallet features
ASEAN’s leading e-payment provider, TrueMoney, announced today new and improved features for its TrueMoney Wallet application, designed to serve all of the financial needs for people in Thailand and in the ASEAN region, according to a company statement.
— Mizzima News

Asean stocks mostly subdued, Thailand gains on strong data
Most Southeast Asian stock markets were subdued on Monday as worries about U.S. President Donald Trump’s ability to fulfil his economic agenda persisted, while Thai shares rose on better-than-expected economic growth data.
— The Star Online

Protect migrant workers too
THE South-East Asian region is home to major labour-sending countries (Indonesia, the Philippines, Myanmar) as well as labour-receiving countries (Malaysia, Singapore, Thailand, Brunei, which also receive large numbers of labour migrants from Nepal, Bangladesh, India).
— The Star Online

Toward an Asean circular economy
As the Association of Southeast Asian Nations turns 50, our planet breaks records in global temperatures and pollution. Asean enters its next 50 years with the planet considerably different from the time it was founded. The most urgent challenge facing the world and particularly the region today is climate change. Closely related to it is an equally urgent issue: waste.
— Inquirer.net

The ASEAN-China Breakthrough in the South China Sea That Wasn’t
Earlier this month, following a foreign ministers’ meeting of the Association of Southeast Asian Nations (ASEAN) in the Philippines, China and its Southeast Asian neighbors announced that they had agreed on a framework, or broad outline, for negotiating a code of conduct in the contested South China Sea.
— World Politics Review

PH TO LEAD GROWTH IN ASEAN: Constructive growth for Asia for rest of 2017, says Citi
Asia will remain on the growth path in the second half of 2017, though its pace is expected to moderate, according to Citi’s economic forecast for the region.
— Malaya

Capital markets in Asean will remain challenging if less-developed countries are not pushed for growth
The overall deepening of Asean’s capital markets will remain challenging if advanced countries do not create an inclusive environment for their less developed counterparts, said the Securities Commission.
— New Straits Times

Turkey eyes boost in ASEAN ties, PM Yıldırım says during Singapore visit
Turkey hopes to develop its ties with the Association of Southeast Asian Nations (ASEAN) further when Singapore takes the chair of the regional body, Turkish Prime Minister Binali Yıldırım said Monday.
— Daily Sabah

Analysis: How to make health coverage roam
The ADB’s Eduardo Banzon argues that ASEAN countries need to guarantee the same health coverage for citizens when they are in foreign countries.
— HealthInvestor Asia

Cambodia Morning News

Compiled by Kongleaphy Keam @kongleaphy1

Factories to foot the bill for new worker benefits
Garment and footwear manufacturers have called on the government to provide facilities to help offset the higher costs on production that they will face as the result of a benefits package that Prime Minister Hun Sen pledged to garment factory workers this week.
—The Phnom Penh Post

Phnom Penh Begins Purge of On-Street Parking
City Hall’s effort to clean up Phnom Penh’s cluttered streets is now targeting vehicles parked for sale along roads, with sellers given one week to move cars lining the narrow perimeter around the former Freedom Park.
—The Cambodia Daily (paywall)

Exam Reform Subtracts Poor From Equation
The education minister’s message for students finishing high school has been heard loud and clear since the reform of the national completion exam four years ago: Merit will buy you a pass grade—not money.
—The Cambodia Daily (paywall)

See here for more of today’s Cambodia Morning News

Indonesia Morning News

Compiled by Rama Ariadi @AriadiRama

Government seeks to issue one-month treasury notes
The Indonesian government is seeking to issue one-month state treasury notes next year to meet the short-term liquidity needs
— Antara

Hackers hit Malaysian sites over SEA Games Indonesia flag gaffe
Indonesian hackers Monday claimed responsibility for attacking more than 30 Malaysian websites following a gaffe that saw Indonesia’s flag printed upside-down in a Southeast Asian Games commemorative magazine.
— Channel NewsAsia

Indonesia Joins USS John McCain Search and Rescue Effort
Foreign Affairs Minister Retno Marsudi said that Indonesia has joined the search and rescue attempt to find the missing crew of the USS John S. McCain throughout the Singaporean waters.
— Tempo (EN)

See here for more of today’s Indonesia Morning News

Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

Regional countries discuss rural development in Laos
Rural development officials from Laos, Myanmar, the Philippines and Cambodia gathered in the Lao capital of Vientiane on Monday to share their experiences and understanding of the sector.
— Xinhua

Tackle social issues, PM directs Champassak
Calls to fight drug trafficking, boost revenue collection and create job opportunities for local people are some of the highlights of Prime Minister Thongloun Sisoulith’s visit to Champassak province last weekend.
— Vientiane Times

Chinese backer eyes US$40 million elephant conservation centre investment
A Chinese investor is considering a lucrative tourism opportunity in Xayaboury and is looking at putting millions of dollars into running an elephant conservation centre in the province, which has become well known for its annual elephant festival.
— Vientiane Times

See here for more of today’s Lao Morning News

Malaysia Morning News

Compiled by Kongleaphy Keam @kongleaphy1

U.S. Warship Collision Exposes Singapore-Malaysia Sea Dispute
A collision between a U.S. warship and an oil tanker near the Straits of Malacca on Monday has shone a light on a territorial dispute that has simmered between neighbors Singapore and Malaysia for nearly 40 years.
—Reuters

Bank Negara suffered losses of RM31.516b in foreign exchange from 1991 to 1994, says witness
Bank Negara Malaysia (BNM) suffered losses totalling RM31.516 billion in foreign exchange in 1991 until 1994, the Royal Commission of Inquiry (RCI) which was set up to investigate the losses, was told today.
—The Sun Daily

Vietnamese-operated vessels seized with 5,000kg of fish
The Malaysian Maritime Enforcement Agency (MMEA) here seized five tonnes of fish worth RM50,000 after detaining two vessels for fishing illegally off Miri waters.
—The Borneo Post

See here for more of today’s Malaysia Morning News

Myanmar Morning News

Compiled by Sreypov Men @MenSreypov

More firms to be listed on Yangon stock exchange
PEOPLE’S interest in trading on the Yangon stock exchange does not seem to be growing 18 months after its launch but more companies are nevertheless keen to be listed, say officials.
— The Nation

World Bank funds for Myanmar’s fiscal resilience reforms
The World Bank has signed a zero-interest $200m credit with Myanmar to help with programmes that include better public debt management, increased tax collection and stronger public finance management.
— Public Finance International

Myanmar has 16 months left to join the AEC. Here’s a checklist of what needs to be done.
Myanmar has until December 31, 2018, about 16 months, to join the ASEAN Economic Community (AEC), which aims to create a single market and production base with a free flow of goods, services, labour and capital across its member states.
— Myanmar Times

See here for more of today’s Myanmar Morning News

Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Credit Suisse upgrades Philippine GDP 2017 outlook on Q2 results
Credit Suisse upgraded its 2017 economic growth forecast for the Philippines on the back of stronger-than-expected gross domestic product (GDP) expansion in the 2nd quarter of the year.
— Rappler

New radar system to boost PH navy’s ability to detect intrusions
The Philippine Navy’s (PN) capability to detect unauthorized entries in the country’s vast maritime domains will be greatly boosted by the American-donated tethered aerostat radar system (TARS) that will be turned over on August 22.
— Update Philippines

Stocks to dip on thin trade as ‘ghost month’ starts
LOCAL EQUITIES will likely dip this week as investors maintain a cautious stance at the official start of the so-called “ghost month.”
— BusinessWorld Online

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

USS John S McCain collision: Singapore will spare no effort to find missing crew members, says MPA
Search and rescue efforts will continue through the night for the 10 US Navy crew members missing after the USS John S McCain an oil tanker collided in Singapore territorial waters, the Maritime and Port Authority of Singapore (MPA) said in a statement on Monday evening (Aug 21).
— Channel NewsAsia

Singapore may renegotiate EU trade deal after Brexit removes British markets
Singapore has raised the prospect of renegotiating terms on a long-awaited free trade deal with the European Union (EU) due to the impact of Brexit, a Square Mile official has revealed.
— Independent ie

Cashless holds benefits if hurdles cleared
IS Singapore, a modern metropolis and one of the world’s top financial centres, really that backward when it comes to embracing cashless payments?
— The Business Times

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

GDP growth forecast gets scaled up to 3.7% for year
THE NATION’S top economic planning agency has raised its full-year forecast for economic expansion to 3.7 per cent, from 3.5 per cent, after export-fueled growth in second quarter surprisingly quickened to 3.7 per cent from the same quarter of 2016.
— The Nation (annoying popups)

Interpol alert out for Vorayuth
Interpol recently issued an international alert, known as a Blue Notice, to its 190 member countries for Red Bull scion Vorayuth Yoovidhya, wanted over a hit-and-run case that killed a police officer in 2012, said a police spokesman.
— Bangkok Post

Thai Q2 GDP growth fastest in over 4 yrs, caps strong quarter for Southeast Asia
Thailand’s economy capped a solid performance for Southeast Asia in the second quarter, growing at its fastest clip in over four years thanks to strong exports – a common denominator for many countries still struggling to boost private consumption despite ultra-low interest rates.
— Reuters

See here for more of today’s Thailand Morning News

Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

Energy dilemma weighs on Vietnam
State planners say more than 50% of national power will be coal-fired by 2030, a big boost in the fossil fuel’s use that will worsen pollution and undercut climate change goals.
— Asia Times

More investment funds receive licenses as stock market thrives
A manager of TVAM said TVAM would launch the new fund – TVGF2 – a closed-end fund in early October. It will be listed on HOSE.
— VietnamNet Bridge

Gov’t urges mobilisation of idle gold
The Government Office last week sent a written document to the central bank governor, referring to the mobilization of idle gold and foreign currency sources from the people.
— Viet Nam News

See here for more of today’s Vietnam Morning News

Asean Morning News is the most comprehensive selection of reports on what you need to know from around the Asean Economic Community (AEC) published. All articles are hand curated by the team at AEC News Today. It is published M-F by AEC News Today: Governance, not government; policies not politics.